Great Taipei Gas Corporation AI Stock Analysis
Great Taipei Gas Corporation (9908) AI Stock Analysis
Great Taipei Gas Corporation
(TWSE:9908)
Great Taipei Gas scores well on financial strength: an effectively debt-free balance sheet, consistent 25%+ net margins and reliable cash generation make it a low-risk, income-oriented utility. Valuation reinforces the case, with a modest 13.6x P/E and a 4.2% dividend yield supported by free cash flow. The score is held back by the absence of top-line growth, a notable decline in operating margin that may signal weaker core profitability, a low 6% return on equity, and soft technicals, with the price trading below all key moving averages on negative momentum. Suited to investors prioritising stability and income over capital appreciation.
Great Taipei Gas Corporation (9908) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 14.32B
- Dividend Yield
- 4.19%
- Average Volume (3M)
- 320.18K
- Price to Earnings (P/E)
- 12.8
- Beta (1Y)
- -0.02
- Revenue Growth
- 0.38%
- EPS Growth
- 30.67%
- Country
- TW
- Employees
- 337
- Sector
- General
- Sector Strength
- 55
- Industry
- Regulated Gas
Great Taipei Gas Corporation Business Overview & Revenue Model
Company Description
The Great Taipei Gas Corporation, headquartered in Taipei, Taiwan, since its establishment in 1964, primarily operates as a natural gas provider across the nation. Beyond its core utility offering, the company also engages in the production and suppl...
Great Taipei Gas Corporation Financial Statement Overview
Summary
A classic defensive utility profile: a near debt-free balance sheet (total debt of about NT$9 million against NT$14.1 billion of equity) is the standout strength, supported by dependable operating cash flow of NT$1.03 billion that exceeds net income and NT$583 million of free cash flow. Profitability is stable, with a net margin above 25% and net income of NT$863.9 million. Offsetting this are flat revenue in the NT$3.2–3.5 billion range for six years, a sharp drop in operating margin to roughly 14.6% from 27.2% that raises quality-of-earnings questions, a modest 6.1% return on equity, and capital spending that absorbs over 40% of operating cash flow, making free cash flow lumpy.
Income Statement
68PositiveBalance Sheet
88Very PositiveCash Flow
75Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.37B | 3.37B | 3.32B | 3.47B | 3.32B | 3.17B |
| Gross Profit | 750.73M | 775.37M | 749.56M | 892.38M | 863.40M | 827.69M |
| EBITDA | 1.26B | 944.28M | 1.33B | 1.77B | 1.34B | 1.41B |
| Net Income | 1.05B | 863.87M | 856.38M | 1.16B | 775.19M | 875.30M |
Balance Sheet | ||||||
| Total Assets | 23.13B | 21.37B | 20.58B | 20.14B | 18.91B | 18.54B |
| Cash, Cash Equivalents and Short-Term Investments | 8.61B | 7.28B | 6.75B | 6.37B | 6.14B | 5.96B |
| Total Debt | 24.72M | 9.23M | 4.43M | 8.54M | 4.53M | 4.93M |
| Total Liabilities | 6.67B | 5.74B | 5.51B | 5.45B | 5.34B | 5.19B |
| Stockholders Equity | 14.87B | 14.12B | 13.65B | 13.34B | 12.27B | 12.09B |
Cash Flow | ||||||
| Free Cash Flow | 1.39B | 582.61M | 542.94M | 808.41M | 260.61M | 772.25M |
| Operating Cash Flow | 1.84B | 1.03B | 979.83M | 1.29B | 818.78M | 1.28B |
| Investing Cash Flow | -1.87B | -1.31B | -1.14B | -828.79M | -182.61M | -967.00K |
| Financing Cash Flow | -760.02M | -633.49M | -651.71M | -584.25M | -593.23M | -593.48M |
Great Taipei Gas Corporation Peers Comparison
Overall Rating
TW:991174Outperform- TW:990870Outperform
TW:993758Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:9911 | 74Outperform | TWD 16.72B | 11.68 | ― | 6.61% | 5.32% | 8.99% |
| TW:9908 | 70Outperform | TWD 14.35B | 12.80 | ― | 4.19% | 0.38% | 30.67% |
| TW:9937 | 58Neutral | TWD 16.60B | 20.94 | ― | 4.07% | 2.10% | 6.61% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:9908 | Great Taipei Gas Corporation | 28.65 | -0.19 | -0.67% | |
| TW:8908 | Shinhsiung Natural Gas Inc. | 39.30 | -1.75 | -4.26% | |
| TW:9911 | Taiwan Sakura Corporation | 75.60 | -3.82 | -4.80% | |
| TW:9937 | National Petroleum Co., Ltd. | 54.10 | -0.98 | -1.79% |
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Nov 09, 2026